Signaturefd LLC Grows Position in Bank of Montreal (BMO)

Signaturefd LLC increased its holdings in Bank of Montreal (NYSE:BMO) (TSE:BMO) by 29.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,594 shares of the bank’s stock after purchasing an additional 809 shares during the quarter. Signaturefd LLC’s holdings in Bank of Montreal were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its holdings in shares of Bank of Montreal by 148.1% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,526 shares of the bank’s stock worth $118,000 after purchasing an additional 911 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Bank of Montreal by 71.3% in the 1st quarter. Perigon Wealth Management LLC now owns 1,728 shares of the bank’s stock worth $131,000 after purchasing an additional 719 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Bank of Montreal in the 2nd quarter worth approximately $155,000. Lee Financial Co raised its holdings in shares of Bank of Montreal by 1,050.0% in the 1st quarter. Lee Financial Co now owns 2,300 shares of the bank’s stock worth $174,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Clearwater Capital Advisors LLC bought a new stake in shares of Bank of Montreal in the 1st quarter worth approximately $185,000. Institutional investors and hedge funds own 43.19% of the company’s stock.

A number of analysts recently commented on BMO shares. Royal Bank of Canada upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Wednesday, July 18th. BMO Capital Markets upgraded shares of Bank of Montreal to a “$78.97” rating in a report on Wednesday, July 18th. Zacks Investment Research upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Monday, June 4th. Canaccord Genuity upgraded shares of Bank of Montreal from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Finally, National Bank Financial upgraded shares of Bank of Montreal from a “sector perform” rating to an “outperform” rating in a report on Thursday, May 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $101.00.

Bank of Montreal stock opened at $81.63 on Friday. The company has a market capitalization of $52.25 billion, a PE ratio of 13.08, a PEG ratio of 1.43 and a beta of 1.11. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.14. Bank of Montreal has a fifty-two week low of $73.79 and a fifty-two week high of $84.71.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Thursday, November 1st will be given a $0.7386 dividend. This represents a $2.95 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, October 31st. Bank of Montreal’s dividend payout ratio (DPR) is currently 47.28%.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through three groups: Personal and Commercial Banking, Wealth Management, and BMO Capital Markets. The company's personal banking products and services include checking and savings accounts, credit cards, mortgages, creditor insurance products, and financial and investment advice services; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers.

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Institutional Ownership by Quarter for Bank of Montreal (NYSE:BMO)

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